TMI BlogSecurities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... - (ca) professional clearing member means a member having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange. II. In Schedule V , (i) in Part A, after clause 1A, the following clause shall be inserted, namely, - 1B. This schedule shall apply to every stock broker who deals in electronic gold receipt segment and every clearing member / self-clearing member who clears and settles trades in electronic gold receipt segment, from the date of grant of registration. (ii) in Part B, in clause 3, in sub-clause (1), in the table, after the row for the Debt Segment, the following new row shall be inserted, namely, - Segment Rate/Amount (in ₹ ) Remarks Stock broker Clearing Member Self-clearing member Electronic Gold Receipt Segment 0.00010 percent of turnover (₹ 10 per crore) * * All sale and purchase transactions in Elect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deposited by trading member with clearing member/ professional clearing member and by self-clearing member/ clearing member/ professional clearing member with the clearing corporation shall be excluded while calculating the variable networth. (v) After clause 7, Table 1 and Table 2 shall be substituted with the following, namely, - TABLE 1 NETWORTH FOR MEMBERS DEALING IN SECURITIES Type of Member Base Networt {within 1 year of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} (in ₹) Base Networt {within 2 years of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} (in ₹) Variable Networth {within 1 year of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} # Trading Member - 1 crore 10% of average daily cash balance of clients retained with the member across segments/ exchanges in the previous 6 months. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f marketable securities: Provided that in case of securities pledged to clearing corporation, the post haircut value of shares owned by the Trading Member / Clearing Member, as may be specified by the Board from time to time, shall be considered for computation of the networth: Provided further that the deposit requirement specified for the debt segment shall not be applicable when a clearing member clears and settles all the trades only on gross basis for both securities and funds, without using settlement or trade guarantee fund: Provided further that where the stock broker, clearing member or self-clearing member in the debt segment, is also regulated by a sectoral regulator other than the Board, the networth shall be computed in the manner as specified by such sectoral regulator or as specified by the Board, whichever is higher. Explanation 2 : For the purposes of this Schedule, free reserves shall include Profit and Loss, General Reserve, Securities Premium, Preference Share Redemption Reserve and Capital Redemption Reserve, but shall not include reserves created by revaluation of assets. AJAY TYAGI, Chairman [ADVT.-III/4/Exty./659/2021-22] Footnote ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2003 vide F. No. SEBI /LAD /20795/2003. (o) March 10, 2004 by the Securities and Exchange Board of India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O. No. 398(E). (p) August 1, 2006 by the Securities and Exchange Board of India (Stock Brokers and Sub- Brokers) (Amendment) Regulations, 2006 vide S.O. No. 1235 (E). (q) September 7, 2006 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2006 vide S.O. No. 1447 (E). (r) September 25, 2006 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Third Amendment) Regulations, 2006 vide S.O. No. 1600(E). (s) May 26, 2008 by the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 vide Notification No. LAD-NRO/GN/2008/11/126538. (t) August 11, 2008 by the Securities and Exchange Board of India (Stock Brokers and Sub Brokers) (Amendment) Regulations, 2008 vide Notification No. LADNRO/ GN/2008/20/134766. (u) June 29, 2009 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2009 vide Notification No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tification No. LAD-NRO/GN/2017-18/005. (ah) March 13, 2018 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers)(Amendment) Regulations, 2018 vide Notification No. SEBI/LADNRO/ GN/2018/03. (ai) July 30, 2018 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers)(Second Amendment) Regulations, 2018 vide Notification No. SEBI/LADNRO/GN/2018/27. (aj) March 22, 2019 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2019 vide Notification No. SEBI/LAD-NRO/GN/2019/03. (ak) April 17, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 vide Notification No. SEBI/LAD-NRO/GN/2020/10. (al) May 08, 2020 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2020 vide Notification no. SEBI/LAD-NRO/GN/2020/011. (am) March 30, 2021 by the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2021 vide Notification no. SEBI/LAD-NRO/GN/2021/14. (an) May 05, 2021 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2021 vide Notif ..... 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